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extra money

Whether it’s groceries or new clothes, getting
what you need shouldn’t be a stressful experience.

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FLIGHTS

GROCERY

FURNITURE

3, 6, or 9 month payment plans

No interest, just a small fee

No credit check stress

Access extra money, up to $1000

What is Pay Later?

Life doesn’t always line up with payday. Pay Later gives you the freedom to spread out eligible purchases into smaller monthly payments, so you can skip the pressure of making a big payment right away. If you’ve been hit by an unexpected bill or simply need to free up some cash for this month’s budget, Pay Later gives you extra breathing room until that next pay cheque.

Start a plan

How pay later works

Select one or more $100+ purchases, up to $1000. Then pick a monthly instalment plan to pay them off how you’d like.

We're flexible. You can repay the cost of your past purchase over 3 months, 6 months, or 9 months. Just pick the length that works for you.

We’ll put together all the details of your plan so all you have to do is easily review and confirm to make sure everything looks good and works for you.

Once finalised, you're good to go. Your Pay Later plan will be active and we'll deposit money into your Spendable account, usually within 24 hours.

The reviews speak for themselves

We’ve earned the trust of more than 2 million Canadians using KOHO—not to mention their praise.

4.8 App Store Rating

2.5M+ Happy Customers

#1 Rated Canadian Financial App

Read our reviews

Signing up is simple

Pay Later is just on the KOHO app. To get started, download the app and then pick the plan that works best for you.

The perfect plan for your needs	Essential $0/mo* Over $100/year in value** Get rewarded on everyday spending with Cash Back on the essentialsStart with Essential	Extra $12/mo Over $200/year in value** Get extra perks, extra cash back, and extra savingsSave now with Extra	Everything $14.75/mo Over $500/year in value** Get more than your money’s worth and earn the most rewards on KOHOEarn more with Everything
Benefits
Unlimited Cash Back on groceries, transportation, food & drinks	1%	1.5%	2%
Earn interest	2%	2.5%	3.5%
Free Credit Score
Crypto trading fees	0.5%	0.5%	0.5%
Instant e-Transfers
No Foreign Transaction Fees	-
Discount on Credit Building	-	30%	50%
Phone support

^{*Get Essential for free! Learn more
**This is an estimate. Actual savings may vary depending on individual spending habits and service usage}

Not sure which one speaks to you? Take our quiz to find the best plan for you.

Find a plan

FAQFrequently Asked Questions

We don't perform any credit checks for when you apply to use Pay Later. However if you end up using it, missed payments may be reported to the credit bureaus.

We don't charge any interest. However, until all amounts are fully repaid, you will be charged a monthly fee that will be disclosed before you sign up for the Pay Later plan. Additionally, an NSF fee of $15 (capped at once per month) may also be charged in case a payment fails to clear.

Yes, we charge a monthly fee until all amounts in your payment plan are fully repaid. The amount of the fee will be shown in the app before you sign up for the Pay Later plan, so don’t worry about having to commit before you see the cost. If a scheduled payment can’t be collected because there aren’t enough funds in your Spendable account on the due date, a $15 NSF fee will apply. If the balance remains unpaid, additional $15 NSF fees will be charged on a monthly basis.

The Pay Later feature isn't available to everyone yet. Once you qualify for Pay Later and make an eligible transaction, you'll receive a notification inviting you to convert the eligible transactions into a payment plan. To improve your chances of getting Pay Later, we suggest that you keep using KOHO regularly and make sure to pay any subscription fees for other KOHO features on time

We have specific internal criteria and eligible merchants for Pay Later. Upon making an eligible purchase, if you qualify for Pay Later, you'll see eligible transactions in your KOHO app. However, there are general criteria that your purchases must meet: The transactions must be within a 30-day period. The transaction amounts must be over $100. The transaction amount must be within your Pay Later limit. Head to the main spend tab and select "Pay Later” to see your limit.

You can have only one active Pay Later plan at a time. However, you are allowed to merge several transactions into a single Pay Later plan.

Since your KOHO account is a prepaid Mastercard, Pay Later plan works a bit differently. You can sign up for Pay Later on an eligible purchase after you’ve made it. That means you don’t have to take a loan up front to make a purchase. Instead, the money will be deposited in your Spendable after you’ve created your Pay Later plan.

Once your Pay Later plan is successfully created, the money will be deposited into your Spendable account usually within 48 hours 🎉! Important to know: Our support agents cannot expedite this process.

Your Pay Later payments are collected automatically each month on your billing date. KOHO will always try to collect whatever amount is available in your Spendable balance, even partial payments. If a full payment can’t be collected due to insufficient funds, an NSF fee of $15 may be applied. If the payment continues to remain unpaid, additional NSF fees may be charged in subsequent months. You also have the option to pay off your plan early through the KOHO app. But keep in mind that we currently only support full payment of the remaining balance on your plan, so partial payments aren't available. To make an advance payment, simply go to your active Pay Later plan, click the calendar in the top right corner, select your current active plan and proceed to click Pay Early.

The refunded amount will appear in your Spendable account, and your Pay Later will continue. Since you can make advance payments for your plan, you could always choose to use the refunded amount to pay for some of your Pay Later plan.

Still have questions?

Can't find the answer you're looking for? Please chat to our friendly team.Visit our FAQs

Access
extra money

What is Pay Later?

How pay later works

Choose a past purchase

Decide your plan length

Review the details

Track your payments

The reviews speak for themselves

Signing up is simple

FAQFrequently Asked Questions

Still have questions?

How pay later works

Choose a past purchase

Decide your plan length

Review the details

Track your payments

Signing up is simple

FAQFrequently Asked Questions

Still have questions?